Minding The Under-Insurance Trap


With more than two thirds of households being underinsured1 and an estimated £226 billion2 of contents in homes either underinsured or not insured at all, underinsurance is a significant problem. Mark Daines, Private Client Director at insurance broker Aston Lark, offers his advice.

Keep your insurance up to date

The worst thing you can do is assume the cover you have in place is adequate, as the realisation of being underinsured only becomes clear at the point of a claim, just when you need your insurance policy the most.

Red flags to look out for:


  • The sum insured is based on a mortgage valuation
    A mortgage valuation is not an in-depth survey of the building and therefore the surveyor will often express the rebuild sum as the ‘minimum requirement’.
  • The sum insured is based on a proportion of the purchase price
    There is no direct correlation between the retail value of a home and its rebuild cost.
  • The building is listed
    A listing increases the cost and complexity of repair or rebuild.
  • The sum insured does not include professional fees or demolition costs
    These costs can be up to 20% of the overall rebuilding cost.
  • The sum insured has not been increased following building works
    New kitchens, bathrooms and extensions can be expensive investments and need to be included.

Contents, Fine Art and Jewellery

  • Calculate your contents
    Don’t underestimate. Think of the new purchases you’ve made and always calculate replacement costs as new.
  • Check your jewellery and watches cover
    The price of diamonds and precious metals are particularly volatile. Obtain a jewellery valuation from a registered valuer at least every three years.
  • Check your fine art cover
    As with jewellery and watches, their value can appreciate so it’s important to ensure that you have them valued every three years.
  • Take photographs
    Photograph each room, as well as high-value items, save the photos and back them up.

Quality cover

At Aston Lark, we work with insurers who appreciate the challenges that underinsurance represents and are willing to work with all involved to ensure peace of mind.

In short, we’ll help you to ensure that your sums insured are correct and that your insurance policy is providing you with the cover you need.  And, if you claim, we’ll be there to help.

Contact us now, no hard sell, just good old-fashioned advice.


020 8181 3169

Abode Affiliates

  • Alleyne Real Estate
  • Blevins Franks
  • Coldwell Banker
  • Crane Resorts
  • Monaco Real Estates
  • RDO
  • St Francis Links
  • Unique Home Stays
  • Yoo
  • Worldwide Dream Villas
  • Enigma Yachts Limited
  • Cornerstone Tax Advisors
  • Pedini London
  • Alexander James
  • Moore Stephen
  • Ibiza Transit Express
  • Oyster Yachts
  • Jumeirah
  • Wall Street Luxury
  • Heron Real Estate
  • Edenhurst
  • MG&AG
  • Gama Property
  • Touch Design Group
  • St Edward
  • Ultra Villa
  • Luxury Italian Living
  • Habitat First Group
  • BDO
  • 7Storeys
  • Worldwide Property
  • Dimora
  • Dominic McKenzie Architects
  • Harry Manning
  • Smart Living
  • Isle Blue
  • MAS Marbella
  • Millgate
  • Jersey Finance
  • guernsey-relocations-logo
  • viberts-logo
  • kpmg-logo
  • author-interiors
  • Wilkinson Beven
  • BoConcept
  • Ante Vrban
  • Deborah Garth
  • You home
  • Ra Shaw Designs
  • Caudwell Collection
  • accanto-interiors
  • Fritz Hansen
  • capital-rise
  • jarrods-staircase
  • neil-davies-logo
  • Tina Shone Group
  • Taplow riverside
  • Aimo
  • ns-ceramics-logo
  • Rusk
  • Consilium Expert Group
  • Ben Krupinski Builder
  • Swoffers
  • Guernsey Relocation Services
  • Douglas Graneto
  • Strutt & Parker
  • wilsons
  • MJC Associates
  • plainspace
  • Fine & Country
  • Bramble Ski
  • Penthouse queen
  • Sarco_Affiliate_Logo
  • taylor wimpey
  • cooper-gardner
  • M Design Architects
  • codan
  • Lovells
  • London DE
  • Prime Lands Group
  • Bellegarde Estates
  • Sinclair
  • Pippa Paton
  • Ecole d'Humanite
  • Benedek Lewin
  • Inspired Villages
  • Huelin Homes
  • Gaudin
  • Lovells Property
  • Racecourse Lodge Logo
  • Paseo
  • Lemay + Escobar
  • Octagon
  • Locate Isle of Man
  • Newlands of Stow
  • Hawksford
  • Holdun
  • St George's International School
  • Schule Schloss Salem
  • AR Architecture
  • lazaro
  • Sella Concept
  • Blakstad
  • miller interior
  • Harrow
  • Pearson
  • Wealth Club
  • Yellow House Architects
  • Designer Touches
  • Zafiro
  • Nicole Murray

Enter your dream destination